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Sweden celebrates its National Day today with lots to celebrate and more to reflect on in building a proper utopia

Monday, 06 June 2011
Sweden celebrates national day today with the shaky Royal family in attendance.  Princess Madeleine has returned to Sweden from New York to participate in the celebrations in Stockholm.  On the economic front, Swedish has lots to celebrate and also lots to work on if Sweden is to be the utopia the Swedes crave.

According to the newspaper, Aftonbladet, the royal family tries to displaying a united front in these difficult times in which the head of the Royal family, King Carl XVI Gustaf’s popularity had fallen among the Swedish public given various accusation plus that he visited brothel, strip clubs and his friend contacted member of the criminal underground to retrieve pictures which would have shown the king in no-so-good acts.  

However, today the Royal family will meet the Swedish people to celebrate another day in which Sweden has achieved significantly much. The Swedish National Day commemorates the day when Gustav Vasa was elected king of the Swedes in the 1520s. The day 6 June, become Swedish National Day as from 1983. The past six years, the days have been celebrated as a public holiday in Sweden.

There are areas where Sweden should have reasons to celebrate particularly areas in which the country has enjoyed impressive economic miracle, as we call it here on this network.

Improvements have been seen in areas of jobs growth, exports and government finances although some people in the Swedish society still say that they do not feel these positive developments.

Sweden has seen its economy grown impressively out of the shadows of the economic crisis which some countries like Denmark and the UK are still grappling with. Denmark has actually gone back to recession while the UK growth is not impressive at all. But Sweden boasts a growth rate of at least 6 percent one of the highest in Europe.

This has made the Swedish government to think of the possibility on impressive tax cuts and extra government subsidies to keep jobs from falling and household happy.

Sweden has seen its engineering sector expand to feed the global economy turn-around, and this is one area where the Swedish economy has benefited from increased exports growth.
Motor vehicles and other capital goods have been flying off the shelves from Swedish producers giving Sweden increasing core competence in those areas. Sweden's exports grew by over 20 percent during the first quarter, in terms of volume, according to statistics Sweden.

This great growth continues with Sweden having the third strongest growth rate in Europe. GDP growth of 6.4 percent in the first quarter of 2011 was surpassed only by Estonia and Lithuania, according to Swedish Finance Minister, Anders Borg.

Unemployment in April dropped to 7.9 percent from just over 9 percent a year earlier. Average unemployment in the euro zone was also 9.9 percent, according to statistic Sweden which also acknowledged that 120 000 more jobs were created in Sweden last year.

Sweden emerged as the world's fourth most competitive economy in 2011, according to Swiss business school IMD's ranking. This means that Sweden gained two positions and walked past Switzerland and Australia on the list compared to 2010.

The Swedes were classed among the happiest in Europe, according to OECD happiness index and for the entire OECD, Sweden emerged third after Canada and Australia. The happiness index considered, among other things, safety of the society, working hours, health, environmental issues and disposable incomes among the member of the OECD countries.

The Swedish state is looking forward to a budget surplus of more than Skr60 billion in 2011 and the national debt is shrinking to under 30 percent of GDP by 2012, according to the Swedish Debt Office.

To get some proper sense of what this means for Sweden, debt-laden countries like UK and U.S. are approaching a GDP to debt ration of about 100 percent and the crisis – laden Greece today stand at almost 150 percent.

However there are other areas where Sweden has to seat up otherwise the hand clapping will soon fall short. The housing market and households' swelling debts are concerns and should be looked into properly.
The household debt has fallen some what but Swedish house prices are not fit for purpose. Swedish houses are over prices and meanly over valued for no apparent reason other than profiteering or economic disruption in the making.

The same organisations singling Sweden’s praises such as the IMF and the OECD have called on Sweden to do something about the ballooning house prices.  The government and the central bank, the Riksbank, are aware of the serious risk it would present and seem to be doing something about it.

But economists and observers say that the risks have moderated some what given that there has been visible attenuation of the liabilities and price growth rates over the past year.

Social fragmentation of Sweden where some sectors of the society have limited access to the AB Sverige is also worrying. Proper integration of all the forces of the society for a wholesome national building as described by Sweden that it is mix society needs to be worked upon more. The Swedish utopia will be attained when the colour of people’s skin will not deterred them from shouting the Swedish national anthem or cladding in Swedish flag some where out there.

People with different background need to be integrated more and accepted more than what is being done today. This also applies to the youths who seem to have been left out in most aspects of AB Sveriege.
By Scancomark.se Team

Key Swedish Facts
Official Name Kingdom of Sweden
King Carl XVI Gustaf
Prime minister Frederick Reinfeldt
Population 9.3 Million
Capital City Stockholm
Monetary Unit Sweden Krona (SEK)
  1kr = 100 ore
Domain Name .se
Int. Dialling Code +46
Official Language Swedish - Main
Other minor languages
Religion Christianity
Main stock market Name NASDQ OMX
  • OMX 40
  • OMX 30
Internet Speed 5.7 Mbps (2009)
Vital Links
Statistics Sweden
Official gateway to Sweden
Government of Sweden
OECD  &  Sweden
Swedish Central Bank


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